Who Owns Endúr Company?

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Who Owns Endúr ASA?

Understanding Endúr ASA's ownership is key to grasping its strategic moves. Recent acquisitions in early 2025, like Total Betong AS and VAQ AS, significantly expanded the company, nearly doubling its size and market reach.

Founded in 2007 and formerly known as Bergen Group ASA, Endúr ASA is a Norwegian public limited company focused on construction and maintenance for marine infrastructure and aquaculture. Its vision centers on sustainable marine development.

Who owns Endúr Company?

The founding of Endúr ASA, originally known as Bergen Group ASA, in 2007 marked the beginning of its journey. However, specific details regarding the initial equity split among its founders or the backgrounds of early backers are not readily available in public records.

Founding Year

Endúr ASA was established in 2007. The company underwent a significant transformation from its previous identity as Bergen Group ASA.

Early Ownership Structure

Information concerning the precise equity distribution at inception is not publicly detailed. This includes specific shareholdings of founders and any initial agreements.

Founder Information

The full names and specific backgrounds of all founders are not explicitly provided in available historical data. Details on early backers are also limited.

Historical Ownership Details

Specifics such as vesting schedules, buy-sell clauses, or any early ownership disputes and buyouts are not clearly outlined in the company's early history.

Company Transformation

The company's evolution from Bergen Group ASA to Endúr ASA represents a strategic shift. Understanding this transition is key to grasping its current ownership landscape.

Public Trading Status

Endúr ASA is a publicly traded company. This means its shares are available for purchase on a stock exchange, influencing its ownership structure.

While the foundational year of Endúr ASA is noted as 2007, and its prior identity as Bergen Group ASA is known, comprehensive details regarding the initial equity split among its founders and the backgrounds of any significant early investors remain largely undisclosed in publicly accessible information. This lack of specific data makes it challenging to pinpoint the exact ownership structure at the company's inception, including any early agreements or potential disputes that may have shaped its initial shareholder base.

Understanding Endúr Ownership

Delving into who owns Endúr requires examining its status as a publicly traded entity. This means that ownership is distributed among various shareholders, including institutional investors and individual investors.

• Endúr ASA is listed on a stock exchange, making its ownership dynamic.
• The Endúr board of directors oversees the company's strategic direction.
• Understanding the Endúr management team is crucial for assessing leadership.
• The Marketing Strategy of Endúr can influence investor perception and, consequently, ownership.

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Endúr ASA's ownership structure has seen significant shifts, particularly with strategic acquisitions in early 2025 that nearly doubled the company's size. These moves have reshaped its major shareholder landscape, reflecting a period of substantial growth and integration.

The early months of 2025 were pivotal for Endúr's ownership evolution. The company completed several key acquisitions, including Total Betong AS, Igang Totalentreprenør AS, and Habto Holding AS (which encompasses HAB Construction AS and Propoint Survey AS) in March 2025. This integration involved issuing 7,333,333 new shares at NOK 75.00 per share. Totalbetong Gruppen AS alone received 6,474,400 shares, representing approximately 12.87% of the post-acquisition issued shares. Earlier in January 2025, Endúr also acquired VAQ AS, a supplier in the aquaculture sector. These transactions significantly expanded the company's operations and order backlog, which reached NOK 6 billion.

Key Ownership Developments in Early 2025

Following major acquisitions and a private placement, Endúr's ownership structure was updated. These events brought new investors and adjusted existing holdings.

• Totalbetong Gruppen AS became a significant shareholder with approximately 12.87% of shares post-acquisition.
• Kverva emerged as a new investor in March 2025, holding around 8.5% after a NOK 350 million private placement.
• Tigerstaden Marine AS's direct holding fell to 4.92% by March 10, 2025, while Tigerstaden AS's consolidated stake was approximately 5.61%.
• As of March 2025, Endúr's share capital stood at NOK 25,156,330, comprising 50,312,660 shares.
• The company's listing on the Oslo Børs makes its Endúr stock ownership subject to public market dynamics.

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The Board of Directors at Endúr ASA is central to its corporate governance, adhering to the Norwegian Code of Practice. This board, comprising between 5 and 9 members, is tasked with ensuring transparency, accountability, and the creation of long-term shareholder value. The Chairman is appointed by the General Assembly, and the board conducts an annual review of the company's governance principles.

Endúr ASA operates on a one-share-one-vote principle, meaning each share carries equal voting rights. This structure ensures that all shareholders have a say in company matters, with no indication of preferential voting rights or dual-class shares that could concentrate control. The company's share capital was initially NOK 18,888,858, representing 37,777,716 shares at NOK 0.5 each. By March 2025, this had expanded to NOK 25,156,330, comprising 50,312,660 shares.

Shareholder Authority and Capital Management

The Board of Directors has been empowered by shareholders to manage share capital effectively. These authorizations impact the company's ability to adapt to market conditions and pursue strategic growth opportunities.

• Authorization to acquire up to 1,844,507.8 shares granted in May 2024, valid until May 2025.
• Authorization to issue shares and increase share capital by up to NOK 2,148,996.35 granted in March 2025, valid until May 2025.
• No dividends declared or paid since the 2008 listing as of March 2025.
• Proposed dividend policy aims for 20-40% of net profit distribution, with first payment anticipated for 2026.
• Understanding the Target Market of Endúr is crucial for assessing shareholder value and company strategy.

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Over the past 3-5 years, Endúr ASA has undergone significant ownership shifts driven by strategic acquisitions and share buyback programs. These initiatives have reshaped its investor base and market presence, reflecting a dynamic period of growth and consolidation for the company.

Endúr's recent strategic moves have substantially altered its ownership structure, with a series of acquisitions in late 2024 and early 2025 significantly expanding its operational scale and market reach. These transactions, particularly the acquisition of Total Betong AS and its subsidiaries, have introduced new major shareholders, with Totalbetong Gruppen AS now holding a notable stake. Concurrently, the company has been actively repurchasing its own shares, indicating a strategy to manage its capital structure and potentially enhance shareholder value.

Share Buyback Activity

In week 29 of 2025, Endúr bought back 15,678 shares at an average of NOK 89.2880. As of week 28, 2025, the company had acquired 621,042 shares under a program aiming to buy back up to 1,629,741 shares by February 28, 2026.

New Strategic Investors

A NOK 350 million private placement in March 2025 saw Kverva emerge as a new investor with an approximate 8.5% stake. This influx of new capital underscores the company's attractiveness to strategic partners supporting its growth trajectory.

Record Order Backlog

By March 31, 2025, Endúr's order backlog reached a new high of NOK 9,320 million. This significant backlog reflects the positive impact of recent acquisitions and strong demand for its services.

Dividend Policy Update

In May 2025, Endúr proposed a new dividend policy targeting the distribution of 20-40% of its net profit after tax annually, starting with the 2025 financial year. This indicates a commitment to returning value to its shareholders.

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